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daily clearing of the FX market. This paper estimates an FX intervention function for Barbados using a dynamic complementary … log-log model. Three general findings emerged: (i) dynamics play an important role in the Central Bank’s intervention … function, meaning that the probability that an intervention takes place today is conditional upon an intervention taking place …
Persistent link: https://www.econbiz.de/10011260015
This paper intends to present a methodology that foresees anticipated signal of intervention in the foreign exchange … macroeconomic fundamentals and would require the intervention in the foreign exchange market by the monetary authority. …
Persistent link: https://www.econbiz.de/10011191497
The post-2001 period in the Turkish economy witnessed many stabilization efforts and regulations applied by policy makers so as to eliminate the effects of the economic crisis on the economy. Dealing with the monetary policy, these policies were conducted in favor of just-in-time interventions...
Persistent link: https://www.econbiz.de/10008636477
This paper examines the presence of nonlinear mechanisms in the exchange rate pass-through (ERPT) to CPI inflation for … three macroeconomic factors, namely inflation rate, exchange rate fluctuations and business cycle. Our results reveals that … exchange rate transmission is higher when inflation rate surpass some threshold. We give a supportive evidence to the Taylor …
Persistent link: https://www.econbiz.de/10011258090
This paper analyzes the exchange rate pass-through (ERPT) into consumer prices for 12 EA countries within a CVAR framework. Using the Johansen cointegration procedure, results indicate the existence of one cointegrating vectors at least for each EA country of our sample. When measuring the...
Persistent link: https://www.econbiz.de/10011259175
some macroeconomic variables such as exchange rate, inflation and interest rate in Nigeria using Autoregressive Distributed … effective and efficient policy control measure should be develop and implement to normalize exchange rate, inflation and …
Persistent link: https://www.econbiz.de/10011260363
is a potentially important source of inflation in Ghana. Using variance decomposition analyses, it is found that monetary … policy implication of these findings is that policies that aim at lowering inflation must focus on monetary and exchange rate …
Persistent link: https://www.econbiz.de/10008869291
In recent years, many developing countries having a history of high inflation, unfavorable balance of payment situation …
Persistent link: https://www.econbiz.de/10008871293
In this paper, we investigate whether the currency substitution can affect the exchange rate uncertainty for the Turkish economy. Considering the whole time period 1987M01-2006M12 as well as thesub-periods 1987M01-1999M12 and 2001M03-2006M12 for sensitivity analysis, our estimation results...
Persistent link: https://www.econbiz.de/10008623473
This paper provides an empirical study of the asymmetrical spillovers of the euro-US dollar exchange rate on inflation … the only key factor, in determining the asymmetry in inflation between core and periphery. The nominal effective exchange … rate instead is a very important driver for the inflation only considering the whole euro zone. Therefore, the EMU seems to …
Persistent link: https://www.econbiz.de/10011108149